US Manufacturing PMI Surges To Over 4-Year High, Biggest Beat On Record

Following July’s drop in US Manufacturing PMI (and biggest miss in 11 months), August’s Flash print hit 58.0 – its highest since April 2010, beating expectations of 55.7 and up from the 55.8 July final print. With China (biggest PMI miss on record) and Europe (13-month low PMI) both disappointing, the world needed some help and the US ‘soft’ survey offered it up in spades… Production levels surged, employment rose at the fastest pace since March 2013, and new orders picked up once again. This was the biggest beat on record – well above even the highest economist’s estimate. Mission Accomplished…

Biggest beat on record – well above even the highest economist’s estimate.